With my sale of WDR and no new buys in nearly three months, I’ve built up quite a cash reserve for future stock buying opportunities. This month I decided to make three stock buys.
On November 1st, I bought an additional 100 shares of First Trust Specialty Finance (NYSE:FGB) for $6.59 per share, which will add $17.50 in dividend income every quarter. FGB is near its 52-week low, so it seemed like a good time to further invest in this ETF stock.
On November 3rd, I bought 100 more shares of Alpine Global Premier Properties Fund (NYSE:AWP) for $6.50 per share, which will add $5.00 every month to my total dividend income.
Finally, on November 7th I bought 225 shares of Omega Healthcare Investors Inc (NYSE:OHI) at $28.00 per share. With a quarterly dividend of $0.65 per share, income from OHI will by $146.25 every quarter for an annual dividend yield of 9.29%. Nice! I should also note that OHI is my first venture into Dividend Aristocrat stocks, so I hope OHI proves to be a good investment choice and will be the first of many future dividend growth stock buys.
In total, these three new buys will raise my projected monthly dividend income by $13.48. That’s not much, but it does represent positive growth in passive income.
Ah ha. Another blogger buying OHI. I really need to consider this dip and add it to my watch list. Great company, great dividend. Congrats on adding some great income!
Bert
Thanks for dropping in DD! Yep, given its current 9%+ dividend yield (thanks to its recent drop in price), it’s easy to see why OHI is popular among bloggers using the dividend growth investing strategy. I’m pretty late to the DGI party, as I’ve been fairly happy with my ETF/CEF investing. In theory, DGI should be a good way to mitigate the damage from dividend cuts that often impact my portfolio’s ETF/CEF stocks.
OHI will give you solid dividend growth and will give you a great dividend for years to come. The plus about it is it raises its dividend .01 cent a quarter so the raises are smaller but over time add up. your next payment from them will most likely and im sure it will happen like clockwork in FEB be 2.25 higher Good job.
Hi Doug! I hope that proves to be the case with OHI. While ETF/CEF investing has worked fairly well for me, dividend cuts have been the Achilles heel of my strategy. If, during my past 9 years of dividend investing, I had not suffered any dividend cuts, then I would certainly be making over $1100 per month in dividend payouts. Dividend Growth Investing is a great strategy if you have the capital and/or sufficient time (10+ years), but I have neither so high yielding ETF/CEF stocks were the best way for me. DGI should help to mitigate the dividend cuts my ETF/CEF stocks will inevitably experience.
If I had more money I would put more on OHI but I have to wait. I’d be doing the higher ones if I needed the money sooner but my highest are OHI and NRZ. Both have given good dividend increases. I like haveing a good mix right now but am always going to keep adding. The aspect of DGI I like seeing how much the increases bring me. This past year was 140.00 some hopefully I can get it close to 160.00 this year.
OHI just raises its dividend again so the most secure dividend is one that has been raised lol at .01 a share you just pocketed an extra $4.50 and $18.00 a year.
Thanks for the heads up about OHI! The next time I update my Portfolio page, I’ll update OHI with the increased dividend.